Former ECB Chief Economist Says Central Bank Run Monetary System Is “Pure Fiction” - By Mike Mish Shedlock (26/5/14) PDF Print E-mail
Mike Mish Shedlock   
Monday, 26 May 2014 07:23

Contra Corner

Anyone who is thinking clearly knows the economic system fostered by central banks is totally and completely out of control.

Repetitive rounds of QE, competitive currency debasement, interest rates at zero, and sponsorship of the internet bubble followed by the housing bubble, followed by the current stock market bubble is proof enough.

So, what I am about to report is really nothing but common sense, except for the fact that it comes from an unusual place, where one does not normally hear such discussions.

Jürgen Stark, former vice president of the Bundesbank, and also former chief economist of the ECB (unofficial title) says “The System is Out of Control“. Via translation from Libre Mercado, here are a few snips.

Stark, until recently one of the big hawks central bank of Germany for his fierce defense of monetary orthodoxy, resigned in late 2011 for his outright rejection to the purchase of government bonds by the ECB launched the president of the institution Jean Claude Trichet. Since then, Stark has used his rare, but valuable public appearances to warn of the risks associated with the current policy of central banks to the crisis.



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Ron Holland On The US Imperium, Coming Dollar Difficulties And The Advantages Of Investing Abroad - By Anthony Wile (26/5/14) PDF Print E-mail
Anthony Wile   
Monday, 26 May 2014 07:19

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MH370 – Malaysian Government Must Take Independent Stand And Stop The Biggest Non-Search Event. Stop The Bogus Search - Matthias Chang (24/5/14) PDF Print E-mail
Matthias Chang   
Saturday, 24 May 2014 11:29

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Marine links Hotel Serco Patent Office To Boeing Crossed Keys Autopilot, 370 Acts Of War - By Field McConnell (24/5/14) PDF Print E-mail
Field McConnell   
Saturday, 24 May 2014 11:27

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Last Updated on Saturday, 24 May 2014 11:36
 
The US Government Explained In One Chart - By Tyler Durden (24/5/14) PDF Print E-mail
Tyler Durden   
Friday, 23 May 2014 22:11

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